Applabs mulls $5 million expansion

HYDERABAD: Applabs, an IT services company specializing in quality management, testing and certification solutions, has drawn a four-pronged expansion plan with an investment of USD 5 million in India and UK.

Applabs CEO Shashi Reddy told newsmen here on Thursday that the expansion plan includes a new testing facility as well as a new training centre in Hyderabad, a new testing facility in UK and strengthening its manpower.

He said the company plans to increase its headcount from 1,400 to 2,500 during the current fiscal while it also plans to go for IPO of USD 40 million in near future for further expansion.